NAGRAT gives govt three-week ultimatum to resolve their pension investments concerns
 
Posted on: 2013-Sep-07        
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The National Association of Graduate Teachers (NAGRAT) has given government a three-week ultimatum to resolve their concerns with their pension investments or face their wrath.

The teachers are protesting the delays in transferring 5.5 percent of their monthly pension deductions to the Ghana Education Service Trust from the National Pensions Regulatory Authority (NPRA) as stipulated in the new Pensions Act.

Vice President of NAGRAT, Angel Karbonu tells Joy News the inability of government to act according to the law, is endangering their future.

"There is no guarantee that if the NPRA keeps the money, the NPRA is investing the money in an acceptable instrument... We don't even know where the money is being kept; how much is invested; whether that decision being taken by the NPRA is a prudent economic decision, we are not aware."

He said NAGRAT is prepared to go the "full haul" to get the right thing done using any legal means possible including going to court, embarking on strike and staging a demonstration.

Meanwhile, Executive Director of IMANI Ghana, Franklin Cudjoe says the inability of the authority to transfer the amount to the Education Service Trust is disheartening.

He says the authority is committing an illegality, by holding onto the money.